Shake Shack (NYSE:SHAK) Price Target Cut to $48.00 by Analysts at Cowen

Shake Shack (NYSE:SHAKGet Rating) had its price target reduced by Cowen from $52.00 to $48.00 in a research report report published on Friday, Benzinga reports. They currently have a market perform rating on the stock.

A number of other research firms also recently commented on SHAK. Truist Financial decreased their target price on Shake Shack from $86.00 to $67.00 and set a buy rating for the company in a report on Friday, July 1st. Barclays decreased their target price on Shake Shack from $57.00 to $46.00 and set an equal weight rating for the company in a report on Thursday, June 9th. Cowen decreased their target price on Shake Shack from $70.00 to $52.00 in a report on Wednesday, July 13th. Morgan Stanley decreased their price target on Shake Shack from $63.00 to $48.00 and set an equal weight rating for the company in a report on Monday, July 18th. Finally, Wedbush decreased their price target on Shake Shack from $83.00 to $75.00 in a report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $68.78.

Shake Shack Stock Performance

Shares of SHAK stock opened at $51.56 on Friday. Shake Shack has a fifty-two week low of $37.72 and a fifty-two week high of $100.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.04 and a current ratio of 2.89. The stock’s 50-day simple moving average is $44.50 and its 200-day simple moving average is $56.48.

Shake Shack (NYSE:SHAKGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. Shake Shack had a negative return on equity of 3.42% and a negative net margin of 2.80%. The business had revenue of $203.39 million for the quarter, compared to analyst estimates of $200.64 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The company’s revenue was up 31.0% on a year-over-year basis. As a group, sell-side analysts forecast that Shake Shack will post -0.32 EPS for the current year.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer bought 21,000 shares of Shake Shack stock in a transaction dated Monday, July 11th. The stock was acquired at an average cost of $39.58 per share, with a total value of $831,180.00. Following the purchase, the director now directly owns 576,364 shares in the company, valued at approximately $22,812,487.12. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Daniel Harris Meyer purchased 21,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was purchased at an average cost of $39.58 per share, for a total transaction of $831,180.00. Following the completion of the transaction, the director now owns 576,364 shares of the company’s stock, valued at $22,812,487.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Zach Koff sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the chief operating officer now owns 31,085 shares of the company’s stock, valued at $1,398,825. The disclosure for this sale can be found here. Corporate insiders own 9.98% of the company’s stock.

Institutional Trading of Shake Shack

Several large investors have recently made changes to their positions in the company. Van Berkom & Associates Inc. lifted its stake in shares of Shake Shack by 43.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,047,116 shares of the company’s stock valued at $41,340,000 after purchasing an additional 318,266 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Shake Shack by 39.1% in the 4th quarter. Champlain Investment Partners LLC now owns 814,685 shares of the company’s stock valued at $58,788,000 after purchasing an additional 228,975 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Shake Shack in the 4th quarter valued at $13,249,000. EVR Research LP acquired a new position in shares of Shake Shack in the 1st quarter valued at $8,850,000. Finally, Landscape Capital Management L.L.C. lifted its stake in Shake Shack by 2,427.0% during the 1st quarter. Landscape Capital Management L.L.C. now owns 117,731 shares of the company’s stock worth $7,994,000 after acquiring an additional 113,072 shares in the last quarter. 81.03% of the stock is currently owned by hedge funds and other institutional investors.

Shake Shack Company Profile

(Get Rating)

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

See Also

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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